Understanding Contract Fraud Claims in Illinois When you enter into a contract, whether it's for a business acquisition, a service agreement, or a major purchase, you do so with the expectation of honesty and fair dealing. Unfortunately, not all parties uphold these principles. Contract fraud in Illinois can turn a promising agreement into a costly nightmare, leaving you with significant financial losses and a sense of betrayal. Understanding what constitutes contract fraud in Illinois, your legal options, and the steps you need to take is crucial for protecting your interests. What is Contract Fraud in Illinois? The Core Elements In Illinois, a claim for common law fraud is rooted in specific, stringent requirements. To successfully prove contract fraud, a plaintiff must demonstrate, by clear and convincing evidence, that: 👉 A false statement of material fact was made. This isn't just an opinion or a puffery; it must be a verifiable assertio...